Finance
KB Kookmin Bank to write off 278.5 billion won in debt for financially vulnerable borrowers
KB Kookmin Bank said on Tuesday it will provide special debt relief worth 278.5 billion won for 12,433 financially vulnerable borrowers. The plan combines reductions in principal for short- and mid-term delinquent claims with the cancellation of long-term delinquent debt. Eligible borrowers include socially vulnerable groups with loans in arrears for more than 5 years and principal of 50 million won or less, and those subject to debt adjustment under the Personal Debtor Protection Act.
